Mild European Winter Impacts K+S's First-Quarter Profits

6:34 AM MDT | May 9, 2012 | Sotirios Frantzanas

K+S (Kassel, Germany) says its net and operating profits decreased 29% and 24% in the first quarter of 2012, to €193.4 million ($250.8 million) and €281.1 million compared with €271.9 million and €368.4 million in the first quarter of 2011, respectively. Sales also decreased 12% year over year, to €1.44 billion due to lower revenues in K+S's salt business segment, which was a result of relatively mild and dry weather conditions in Western Europe that weakened demand for de-icing salt, the company says. The weak performance of...